GoDaddy, perhaps one of the most well-known domain registration brands around the world, is nearing the end of a process which will see three new private equity investment firms purchase large portions of the company. The investments are part of GoDaddy’s larger strategy of expanding into Asian markets. Early next year (2012) the company will open its first Asian call centre to act as the hub of its international business operations.
Since being announced this past summer, GoDaddy has been working with its three partners, KKR, Silver Lake, and Technology Crossover Ventures, to get the necessary approvals for the transaction. The Chinese Ministry of Commerce recently gave its approval, allowing GoDaddy to embark on its Asian expansion. With that settled, all parties involved expect the deal to be closed by the end of the year. Although no explicit price has been mentioned, experts valued the deal at nearly US $1 billion.
The announcement of Chinese approval was made by CEO Bob Parsons at the annual holiday party held in their Cedar Rapids, Iowa office. Once the deal is complete, Parsons will assume the role of executive chairman. He remains the majority owner as well, though there’s no indication as to what his share of the company might be. It’s expected that the new influx of cash will not only aid Asian expansion, but it will also allow U.S. expansion that could add as many as 1,000 jobs.
GoDaddy has been in the news a lot this past year, including registering their 50 millionth domain name and leading the way in SSL growth in North America. The company continues to strive to offer cutting edge domain registration, Web hosting services and top notch customer service.